Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 20.3 -4.9%
- Euro/Yen Carry Return Index 129.18 -.35%
- Emerging Markets Currency Volatility(VXY) 9.42 -.11%
- S&P 500 Implied Correlation 49.71 +1.25%
- ISE Sentiment Index 54.0 -48.6%
- Total Put/Call .92 +3.37%
- NYSE Arms 1.38 +39.39%
Credit Investor Angst:
- North American Investment Grade CDS Index 79.57 -2.5%
- America Energy Sector High-Yield CDS Index 748.0 -4.26%
- European Financial Sector CDS Index 109.43 -1.83%
- Italian/German 10Y Yld Spread 272.75 +5.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 92.48 -3.35%
- Emerging Market CDS Index 194.03 +1.58%
- iBoxx Offshore RMB China Corporate High Yield Index 153.57 +.06%
- 2-Year Swap Spread 13.25 -1.0 basis point
- TED Spread 39.25 -.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap 1.50 +.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.67 -.33%
- 3-Month T-Bill Yield 2.44% +4.0 basis points
- Yield Curve 13.5 -2.5 basis points
- China Iron Ore Spot 73.06 USD/Metric Tonne +.3%
- Citi US Economic Surprise Index -9.0 +3.1 points
- Citi Eurozone Economic Surprise Index -84.9 -14.4 points
- Citi Emerging Markets Economic Surprise Index -15.0 -1.2 points
- 10-Year TIPS Spread 1.82 +4.0 basis points
- 9.1% chance of Fed rate hike at March 20th meeting, 14.7% chance at May 1st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +131 open in Japan
- China A50 Futures: Indicating +85 open in China
- DAX Futures: Indicating +27 open in Germany
Portfolio:
- Higher: On gains in my tech/retail/industrial/biotech/medical sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some
- Market Exposure: 100% Net Long
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